Broker action

Lehman Brothers cut Nasdaq Stock Market, Inc.
NDAQ, +0.85%
to equal-weight from overweight, saying it believes the shares are likely to remain stuck in the $30 to $35 range for the next several months, if not longer, following the announcement of the planned acquisition of Nordic exchange OMX.

Goldman Sachs downgraded electronics retailer RadioShack Corp.
RSH, -2.36%
to neutral from buy, primarily to reflect a more balanced risk/reward profile in the wake of the recent sharp rise in the shares.

Dell Inc.
DELL, -0.82%
said late Thursday that it plans to slash 8,800 jobs, or around 10% of its workforce in a cost-cutting move as it also revealed a slight drop in quarterly earnings. The group said it earned $759 million, or 34 cents a share in the fiscal first-quarter, ahead of analyst expectations for earnings of 26 cents a share. The computer maker was also cut to neutral from buy at Merrill Lynch, which recommended investors take profits.

Job growth rebounded in May, the Labor Department said. Nonfarm payrolls expanded by 157,000, slightly higher than the 150,000 expected by economists surveyed by MarketWatch. The unemployment rate held steady at 4.5%, in line with expectations.

Core consumer price inflation increased just 0.1% in April, bringing the year-over-year increase down to 2%, just inside the Federal Reserve's target, the Commerce Department reported. It's the first time in 14 months that core prices have been inside the Fed's unofficial target zone of 1% to 2%. Personal incomes unexpectedly fell 0.1% in April, after hefty bonuses were paid in the first quarter.

Shares in Dow Jones & Co.
DJ
jumped around 16% in premarket trading after the controlling Bancroft family said it will meet Rupert Murdoch's News Corp.
NWS, +0.63%
and any other interested parties, about a possible sale of the company. Murdoch made a $5 billion bid at the start of May, which was at a roughly 67% premium to where the shares were trading at the time. Dow Jones owns MarketWatch, the publisher of this report.

Desmoteplase, a stroke drug in which Forest Laboratories Inc.
FRX, +0.11%
holds the U.S. and Canadian market rights, failed to meet the primary endpoint in a Phase III trial.

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